NeoVolta Inc. (NASDAQ: NEOV) reported third quarter fiscal 2026 revenue of $2.0 million, unchanged from the prior year period, and received its first commercial and industrial purchase order valued at $1.9 million from Luminia LLC.

The San Diego-based energy storage company posted a net loss of $3.0 million, or $0.08 per share, compared to a net loss of $1.4 million, or $0.04 per share, in the same quarter last year. Operating expenses increased to $3.6 million from $1.9 million in the prior year period.

Gross profit improved to approximately $0.9 million, representing a 46% gross margin, compared to $0.5 million and a 26% gross margin in the third quarter of fiscal 2025. Nine-month revenue totaled $13.3 million, up from $3.7 million in the prior-year period.

The company received a $1.9 million purchase order from Luminia for 40 units of its NVGAIN-125K261 commercial and industrial battery storage system. This represents the first transaction under a strategic collaboration framework announced in December 2025.

NeoVolta's manufacturing facility in Pendergrass, Georgia is progressing with equipment installation targeted for June 2026 and initial production expected to begin in the third quarter of calendar 2026. The facility is designed for 2 GWh of initial annual production capacity.

The company increased its ownership in joint venture NeoVolta Power to 80% from 60% under an amended structure. As of March 31, 2026, NeoVolta had cash of approximately $11.5 million and established a $3.0 million revolving credit facility in April 2026.

Management stated that revenue in the quarter was impacted by a slowdown in the residential solar market following the expiration of the federal solar investment tax credit for individuals on December 31, 2025.